Cullumber Inc., a greeting card company, had the following statements prepared as of December 31, 2017.

CULLUMBER INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016
		12/31/17			12/31/16
Cash		$6,000			$7,100
Accounts receivable		61,400			51,500
Short-term debt investments (available-for-sale)		34,600			18,000
Inventory		40,300			60,200
Prepaid rent		4,900			4,000
Equipment		152,400			130,600
Accumulated depreciationequipment		(34,800	)		(25,200	)
Copyrights		45,700			49,800
Total assets		$310,500			$296,000
Accounts payable		$46,100			$40,300
Income taxes payable		4,000			6,000
Salaries and wages payable		7,900			4,000
Short-term loans payable		8,100			10,000
Long-term loans payable		59,700			69,600
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		54,700			36,100
Total liabilities & stockholders equity		$310,500			$296,000

CULLUMBER INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017
Sales revenue				$333,450
Cost of goods sold				174,300
Gross profit				159,150
Operating expenses				118,800
Operating income				40,350
Interest expense		$11,600
Gain on sale of equipment		2,000		9,600
Income before tax				30,750
Income tax expense				6,150
Net income				$24,600

Additional information:

1.		Dividends in the amount of $6,000 were declared and paid during 2017.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $19,800 and was 70% depreciated was sold during 2017.

Prepare a statement of cash flows using the indirect method.